NZD/USD Signal Update
Yesterday’s signals expired without being triggered as there was no bullish price action when the price first hit 0.6539.
Today’s NZD/USD Signals
Risk 0.75%
Trades may only be taken between 8am and 5pm New York time only, or after 8am Tokyo time later.
Short Trade 1
Short entry following bearish price action on the H1 time frame immediately upon the next touch of 0.6549.
Place the stop loss 1 pip above the local swing high.
Move the stop loss to break even once the trade is 30 pips in profit.
Take off 50% of the position as profit when the trade is 30 pips in profit and leave the remainder of the position to ride.
Long Trade 1
Long entry following a bullish price action reversal on the H1 time frame immediately upon the next entry into the zone between 0.6425 and 0.6400.
Place the stop loss 1 pip below the local swing low.
Move the stop loss to break even once the trade is 30 pips in profit.
Take off 50% of the position as profit when the trade is 30 pips in profit and leave the remainder of the position to ride.
NZD/USD Analysis
This pair is little changed, as despite the fairly strong USD move yesterday the NZD also showed some strength. Overall it is holding up better than the AUD. Over the long term it is still looking weak but before the recent price shocks, it should be remembered that this pair was just ranging for the past 6 weeks or so. This pair might surprise in the long direction if the USD starts to weaken again significantly.
There is nothing concerning the NZD due today. Regarding the USD, there will be a release of Preliminary GDP and Unemployment Claims data at 1:30pm London time.